Reservoir Media (NASDAQ:RSVR) Shares Up 3.6% - Still a Buy?

Reservoir Media, Inc. (NASDAQ:RSVR - Get Free Report) shares were up 3.6% on Friday . The stock traded as high as $7.84 and last traded at $7.88. Approximately 4,714 shares changed hands during mid-day trading, a decline of 90% from the average daily volume of 46,082 shares. The stock had previously closed at $7.60.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded shares of Reservoir Media from a "hold" rating to a "sell" rating in a research note on Friday.

Reservoir Media Trading Up 5.1%

The company has a market capitalization of $521.21 million, a price-to-earnings ratio of 72.64, a P/E/G ratio of 7.16 and a beta of 0.90. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 1.03. The company's 50 day simple moving average is $7.30 and its two-hundred day simple moving average is $7.98.

Reservoir Media (NASDAQ:RSVR - Get Free Report) last announced its earnings results on Wednesday, May 28th. The company reported $0.04 earnings per share for the quarter, meeting the consensus estimate of $0.04. The company had revenue of $41.42 million during the quarter, compared to the consensus estimate of $40.31 million. Reservoir Media had a net margin of 5.04% and a return on equity of 2.20%. As a group, research analysts anticipate that Reservoir Media, Inc. will post 0.11 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Reservoir Media

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Irenic Capital Management LP lifted its stake in shares of Reservoir Media by 1.2% during the first quarter. Irenic Capital Management LP now owns 5,388,003 shares of the company's stock worth $41,110,000 after buying an additional 65,421 shares during the period. Russell Investments Group Ltd. lifted its stake in shares of Reservoir Media by 67.7% during the first quarter. Russell Investments Group Ltd. now owns 380,812 shares of the company's stock worth $2,906,000 after buying an additional 153,705 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Reservoir Media by 18.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 352,568 shares of the company's stock worth $3,191,000 after buying an additional 55,396 shares during the period. Northern Trust Corp lifted its stake in shares of Reservoir Media by 2.5% during the fourth quarter. Northern Trust Corp now owns 203,686 shares of the company's stock worth $1,843,000 after buying an additional 4,983 shares during the period. Finally, Hurley Capital LLC lifted its stake in shares of Reservoir Media by 3.4% during the first quarter. Hurley Capital LLC now owns 144,104 shares of the company's stock worth $1,100,000 after buying an additional 4,741 shares during the period. 44.38% of the stock is currently owned by institutional investors and hedge funds.

About Reservoir Media

Reservoir Media, Inc operates as a music publishing company. It operates through two segments, Music Publishing and Recorded Music. The Music Publishing segment acquires interests in music catalogs, as well as signs songwriters. The Recorded Music segment engages in the acquisition of sound recording catalogs; discovery and development of recording artists; and marketing, distribution, sale, and licensing of the music catalogs.